Crude oil declined on worries about Iran deal

Mar 30 2015

 

            Crude oil has declined at the beginning of this week trading session, after it witnessed a significant recover during the last week which pushed the prices to hit its highest level in 5 weeks.

             The decline of the oil is due to the increasing worries among the investors who focused on whether Iran and the other six world powers would reach an agreement to stop sanctions against Tahran. This may add fuel to the oversupplied market despite the weak demand.

·        Crude oil (WTI) is trading around $48 per barrel , while

·        Brent oil is trading around $55.90 per barrel.